Khatif Holding acquires 50% stake in Arwa Gulf Food Company
- Kuwait: Thursday, February 07 - 2013 at 12:21
- PRESS RELEASE
Khatif Holding Co., the Kuwait-based acquisition company, announced its latest acquisition but in a new sector "food industry". Khatif acquired a 50% stake in Arwa Gulf Food Co. the main distributor of "LaVazza coffee" in Kuwait, the number one coffee brand in Europe.
Osama N. Mohamed, Chief Executive Officer, Khatif Holding Co., discussed the new projects signed since the beginning of 2013 by Fajr Al Eman General Trad. & Cont. Co., Khatif Holding first aquisition.
He also spoke about the contracts awarded by KGOC and Ahmadia Contracting Co to Ashabakat Technical Networks for Computer, one of the subsidiaries of Khatif Holding KCSC to supply and implement Oracle project management solutions.
Al-Bader concluded by drawing attention to Khatif Consult, and in particular the hiring of its new director, as well as a list of projects in the pipeline.
Commenting on the acquisition of Arwa Gulf Co. Fatma M. Al-Bader, Founder and Chairman, Khatif Holding Co. said: "LaVazza coffee is the Italian taste sensation and an established international brand which is loved by Kuwaitis. This is an exciting opportunity for both companies to bring Europe's number one coffee brand to sophisticated coffee lovers in Kuwait. By combining the strengths of the two companies and partnering with Arwa Gulf Food Co to distribute LaVazza in Kuwait we will provide unmatched quality products to our customers."
Speaking about Khatif's strength, Al Bader said: "At Khatif we have proved our capability to add value to existing profitable businesses that seek a partner to take them to the next level. Our acquisition is mostly through capital increase and our funding goes into taking the acquired company to the next level of market share, operational efficiency and profitability. It has become clear that these companies have greatly benefitted from our investment and expertise."
"We have just concluded our three year strategic plans and are actively seeking further opportunities to expand into the Kingdom of Saudi Arabia and other GCC markets."
Al Bader also spoke about the wide range of technical services provided by Khatif Consult, the consulting arm of Khatif Holding which includes feasibility studies, business planning, project valuations, risk management, corporate governance, compliance, and human resources development advisory.
Osama N. Mohamed, Chief Executive Officer, Khatif Holding Co concluded: "During 2013 we are looking at replicating our proven success with a fresh wave of companies, and with the support of our strategic partners, we hope to expand our successful business relationship to achieve the best customer satisfaction and care in Kuwait."
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